Professional Documents
Culture Documents
Make sure while getting FC funds that the purpose is crystal clear for what
purpose it is received.
Make sure that you used these funds for the very specific purpose.
And, care should be taken that, this specific purpose should even reflect in the
books of accounts, FC Annual Returns and Annual Reports.
Mostly, Bank is not providing any ATM or Debit Cards for FC Bank Account.
However, If you have such card for FC Bank Account, do not use for cash
withdrawals for online payments.
You cannot accept foreign hospitality without prior permission of the Central
Government except for an emergent medical aid needed on account of sudden
illness contracted during a visit outside India.
Do Not Transfer FC funds to Unregistered Organizations (Sec.7)
You can transfer funds to unregistered organizations only with the prior approval
of FCRA department in the prescribed format and manner.
One can make payments from FC funds to other persons for services rendered
by them.